Mr. Stephen Stares reports

BENTON RESOURCES INC. ANNOUNCES C$3,600,300 "BEST EFFORTS" PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

Benton Resources Inc. has entered into an agreement with Haywood Securities Inc., as lead agent and sole bookrunner, on its own behalf and on behalf of a syndicate of agents, pursuant to which the agents have agreed to sell, on a best-effort private placement basis, up to 21.82 million flow-through units of the company at a price of 16.5 cents per flow-through unit for gross proceeds to the company of up to $3,600,300.

Each flow-through unit will consist of one common share in the capital of the company will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one common share purchase warrant of the corporation. Each warrant will entitle the holder to acquire one common share of the company at a price per warrant share of 25 cents for a period of 24 months from the closing date.

The company has granted the agents an option to sell up to an additional 20 per cent of the offering in flow-through units at the issue price, exercisable in whole or in part at any time up to 48 hours prior to the closing date.

The gross proceeds from the offering will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada) related to the company's projects in Canada. All qualifying expenditures will be renounced in favour of the subscribers of the flow-through units effective on or before Dec. 31, 2024.

The offering is expected to close on or about Aug. 8, 2024, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional listing approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The offering is being made by way of private placement in Canada. The securities issued under the offering will be subject to a statutory hold period in Canada expiring four months and one day from the closing date of the offering. The offering is subject to final acceptance of the TSX-V.

In consideration for its services, the company has agreed to pay the agents a cash commission equal to 7 per cent of the gross proceeds from the offering and that number of non-transferable compensation options as is equal to 7 per cent of the aggregate number of flow-through units issued under the offering. Each compensation option is exercisable to acquire one common share of the company at a price per such common share that is equal to 16.5 cents for a period of 24 months from the closing date of the offering.

About Benton Resources Inc.

Benton Resources is a well-financed mineral exploration company listed on the TSX-V under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, Benton Resources retains net smelter return (NSR) royalties with potential long-term cash flow.

Benton is focused on advancing its high-grade Great Burnt copper-gold project in central Newfoundland, which has a mineral resource estimate of 667,000 tonnes at 3.21 per cent copper indicated and 482,000 tonnes at 2.35 per cent copper inferred. The project has an excellent geological setting covering 25 kilometres of strike and boasts six known copper-gold-silver zones over 15 kilometres that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and copper-gold soil anomalies. Phase 1 and phase 2 drill programs returned impressive results, including 25.42 metres of 5.51 per cent copper, including 9.78 metres of 8.31 per cent copper, and 1.00 metre of 12.70 per cent copper. All intercept are reported in core lengths.

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